The company won the award for its employee communications initiative, outlined below, aimed at educating the business’s 1,535-strong workforce about saving for the future.
- Encouraging the company’s young workforce to save for the future
- Empower their employees to take control of their future by educating them about their pension freedoms
- Building on the existing joiner figure of 90%
- A large number of employees, spread across seven locations
- Samsung’s younger workforce lacked understanding of pensions and demonstrated limited interest in the scheme
- Pensions are, in general, a topic that is widely viewed as a chore
Following research on non-joiners and industry benchmarking, Samsung held Pensions Month in October 2014 to deliver segmented communications on pensions to its employees.
Throughout October, 23 pension facts were shared in video and text formats, and were printed on napkins to stimulate lunchtime discussion. Targeted emails also made sure that each employee received useful, relevant information to help them take the next step with their pension.
To demonstrate to its young workforce why pensions are so vital, the business held workshops that showed employees what they would and wouldn’t be able to afford if they did or didn’t (respectively) contribute to their pension.
Samsung also took advantage of its technological culture by introducing mobile augmented reality app Blippar in toilets, restaurants and on coffee tables.
- 94 percent of employees are now actively enrolled in the pension scheme
- 92 employees increased their pension contributions in the month of October rather than the monthly average of eight
- 110 employees said they benefitted from 1-to-1 pension meetings and
- Over 93 percent of those who attended the workshops rated them ‘Extremely Useful’
Olivia Parrish, judge at the awards, commented: “Samsung had the difficult task of engaging with its young employees to encourage them to consider their pension and financial situation – unexciting subjects at any age. The solution was very well executed, and the fantastic results speak for themselves. Well done Samsung!”
The Engagement Excellence Awards celebrate the absolute best in employee engagement. They recognise businesses that go above and beyond to connect with their employees. This year’s awards were held at the V&A Museum on 22nd September.